Jim Works in the Accounting Department at the Kansas Sunflower

Multiple Choice

Jim works in the accounting department at the Kansas Sunflower Corporation, where it is his job to record all transactions into journals. After completing this task, the next step in the accounting process is to:

A) prepare the firm's financial statements.
B) post the information to the ledger.
C) determine the tax liability of the firm.
D) balance the difference between assets and liabilities.